DDOG | The Dog likes Ascending TrianglesIf I have learnt anything about DDOG over the past year or so, it's that it likes Ascending Triangle set-ups and big breakouts.
I know past performance is not an indicator of future prices but consider the following:
- DDOG has reacted consistently positively to past ERs - upcoming ER should be no different, and can help us break out of the current Ascending Triangle
- RSI is improving after weakness in November 2020
- We can see an "accumulation" range of volume over the past month or so
I don't really have a specific trade set-up here since this has been a Buy and Hold position for me over the past year or so.
I won't be looking to exit the position anytime soon, even if the ~$138 PT* is hit. For the pure traders out there, DDOG has usually found resistance at 1.68 Fib extensions.
*(PT is a function of 1.68 Fib extension, which is surprisingly similar to the magnitude of the previous pop in early October)
Any thoughts?
Thanks and Good Luck!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)